From Reuters:

China’s U.N. ambassador on Tuesday made clear that Beijing was not ready to immediately support new sanctions against Iran, as called for by Western powers, saying the issue needed “more time and patience.”
“This is not the right time or right moment for sanctions because the diplomatic efforts are still going on,” China’s U.N. Ambassador Zhang Yesui told reporters through an interpreter.
He said senior foreign ministry officials from China, Russia, the United States, Britain, France and Germany would meet later this month to discuss Iran’s nuclear program, which Western powers suspect is aimed at developing atomic weapons, not to generate electricity as Tehran insists.